Skip to main content

tv   MONEY With Melissa Francis  FOX Business  December 7, 2013 12:00am-1:01am EST

12:00 am
neil: personal responsibility. we will finout on monday because dick cheney is ere andl. but parker, the ceo, joining cheryl casone at noon eastern. don't miss it. melissa: robots and drawn sticking over the work force. jobs are vanishing. president bush's chief economic adviser tells us right now, because even when they say it's not, it's always about "money." ♪ think 7 percent unemployment is good news? at that rate, think about this, the way things are going, automated checkout, drawn deliveries and robots that can do just about anything. your job and millions of others could be on the line. there is a structural change going on in our economy as we speak. joining me now to break it down, former chief economic adviser to
12:01 am
president george w. bush and a hoover senior fellow. welcome to the show. you know, every time i see something new you know, amazon drones delivering a package, i see automated checkout at the cbs on the corner. i think that jobs have disappeared and are going to continue to disappear, and they are not coming back. am i wrong? >> you are not wrong. that is a correct observation, but it is n observation that is not unique to this particular time frame. you mentioned structural change, and there has been a structural change, and structural change has been occurring for a long time. if you go back to the 1950's, we have about 35 percent of our workforce is unionized, and manufacturing for the most part. and then if you look at the numbers, say in 2007 the number that just precedes a recession, we had about the same number of people, 14 million in manufacturing in the 50's, 14 million in manufacturing in
12:02 am
2007. but we were producing six times the number of goods in 2007 that we were producing in 1950. basically what that tells you is there has been a tremendous increase in productivity. where did those people go? for the most part those people went into service jobs. not all of which are low-paying, some of which are. we have seen a widening in the dispersion of wages. not because the economy has not been productive, but because the jobs that are now available require higher levels of pay. melissa: i am so glad you brought up the idea that a lot of those people went over to the service sector because just yesterday we were talking about this idea that there are so many service sector employees that are out there protesting right now about the minimum wage. in fact what we had one on the show. i want to play for you what he said and did his perspective and we will talk about on the other side. >> i actually had one other job which was minimum-wage.
12:03 am
we are talking almost 2012, i was working and cvs through the summer youth employment program. melissa: it sounds like you don't have a lot of work experience. i mean, you are the exact kind of person who comes in and gets that opening job in order to try and move up the ladder. so it is hard for me to understand what your complaint is. >> well, my complaint is this, the following, you know, i am currently supporting a family of six people, single mother and five younger siblings that i'm currently helping to support. i can barely survive on the minimum wage that i'm earning currently. melissa: here is what is perplexing. this is somebody who may be would have worked in a factory a while ago. those jobs and been replaced by
12:04 am
robots. now he's working in mcdonald's amount striking because it wants more money, there are machines coming along to help you check out at mcdonald's without anyone helping you. it is already happening and walmart, cvs. where does he go next to in that job that he has protested this not exist any longer? >> that's right. i think the big problem is that our economy has not done a good job as serving the people at the lower end of the educational distribution. those people need jobs and deserve jobs. unfortunately for the only way to solve the problem is not simply to legislate higher wages if we could do that you could ask, why don't we legislate wages that are $90 an hour instead of nine are ten or $15 an hour. obviouy we know why we don't do that. that would be impractical, and we would lose jobs at an enormous rate if we did something like that. you can't do that. what you have to do is reform the educational system, make sure that these people have the
12:05 am
skills that are necessary to compete in a modern economy. melissa: and do what? and do what? i want to run at a time. reck we channel them? are there enoogh jobs fixing the robots, fixing the automated checkout machines, programming them. is there the same number of jobs doing new things to replace the jobs that are being made obsolete by computers and robots and drowns and everything else? >> absolutely. go back to 2007. the and upon the rate was just over 4%. so all of those people that i talked about wd the move from manufacturing and services because productivity increased so much were working. they were working in service jobs. the issue is not whether they are working. the issue is whether they're working in jobs and a pang sufficiently high wages, and that has been a problem in the economy. not that they cannot find work but the jobs that they find are not jobs that are pain in the kinds of wages that they might have gotten in the past.
12:06 am
and so in order to do that we have to improve their skills that. sorry. go ahead. melissa: the jobs of the bottom will continue to pay less. the past five years we have seen median income dropped while we have seen the income of the wealthy go up. they have gotten richer as a result of the stock market. it does not seem like there is a near-term solution to this. last word. >> that's right, but it is not a gesture at the top. it is true at all parts of the incooe distribution in the educational distribution. the further you are away from the top in terms of education the worse you do. and so again this solution sounds like the tried one, a cliche, but it is the only way to solve the problem. we have to do a much better job at providing skills to the people at the bottom. melissa: i hope there are enough jobs to train those people to do so that we get everyone working. i am not convinced that is the case, but i hope it is. thank you for coming on. we love your expertise. >> thank you. melissa: and not the only one who believed out to be taken by
12:07 am
machines. tom sullivan degrees. >> the minimum wage by as nothing to do with the economy or economics. in fact, only about 2 percent of working people get the minimum wage. the biggest bulk of them are teenagers from a flawed homes. it is simply a political wedge issue so politicians on the left can say politicians on the right don't care about blow back. but at some point to things will happen. for all those protesting for a $15 a living wage you have something to consider. first, we taxpayers already subsidize the minimum wage with food stamps and welfare and housing and now health care. if you aren't too much you will start losing those benefits, which should be your goal. second point, at some point your boss will start bringing in machines. already there are key asset growth restores and home depots. i am kind of supplies fast-food restaurants had already replaced you with a kiosk. but it -- the technology exists and it is efficient.
12:08 am
america has always been charitable, but it never embraced an ounce. we celebrate people who rise from the bottom to make a success. that and the machines is why these protests will never work. melissa: a new call to double the gas tax. finally driving less and buying hybrids. the government wants to tax us as a reward. the details on that one. finally you can drop your iphone to your heart's content because this case is nearly indestructible. check this out. our latest installment. more "money" coming up. ♪
12:09 am
12:10 am
12:11 am
♪ melissa: from the u.s. to every corner of the globe, "money" has been flying around the world starting in germany where the government wants foreigners, like us, to start paying off to use the audubon. i you kidding me? a highway toll is expected to raise hundreds of millions of dollars for the country, at is causing average for people in neighboring countries that right through germany just to get to other places really fast. so much for europe's open borders. over to china where the smog
12:12 am
levels in shanghai are so bad that flights in and out of the airport of being canceled. some of women at dangerous levels of air pollution on many cold-fired power plants and surrounding provinces. it is not so bad for some companies. those selling face masks, profits have skyrocketed. landing in canada where crack smoking toronto mayor robert ford has got himself a new gate. this time as a sports contributor on a u.s. radio station. giving his nfl picks each week on the aptly named show, which for it, sports junkie. that is the name of the show. it airs on nbc station. what a perfect fit that is. all right. we are damned if we do and damned if we don't to medleys when it comes to gas prices. the obama administration spin years telling us to drive less and the tower suvs for hybrids, and we actually did it. well, not me, but other people did. now we might be getting punished thanks to a proposed tax that
12:13 am
could raise gas prices and fill federal coffers. it is a case of the government on wild? absolutely phil flynn. my favorite economist, peter more recede. thanks to all of you for joining us. you know, so this is really driving me crazy. if you look at the stats crude oil production up 17% year-over-year. fracking like crazy. for the first time in nearly two decades we're producing more oil than we have imported. americans are driving almost 100 billion fewer miles. we have super high gas prices. we produced all of this oil and stopped dring. so prices went down. what is our report? the government will make up the difference with the tax. i can't believe it. are you as hysterical as i am? >> i am. i have a constructive suggestion we always get our tax to use the roads. we use the gas tax. back in the old days all the
12:14 am
stars at 50 miles to the gallon. if we will tax according damage people use the roads as according to how much gas to use which is what they're really proposing, the people with these high-mileage tabriz should have to pay twice the sales tax as someone with a gas guzzler. is the same where and tear on the roads. what really troubles me is how much they waste the gas tax money. we spend enough on the road, but it gets wasted because of federal money whenever there is federal money involved we have to hire unionized workers. those wages are so out of whack with the market price that we can never afford the roads. melissa: i don't know. uni have been covering this for ever. we always said the only cure for high prices as high prices. they were really high. we did everything we could to fix that, drilling more, driving less, doing all this stuff. the government comes in and picked my pocket anyway. >> i'm telling you. and every mile that we drive right now is being subsidized by the government. this is just another case of
12:15 am
taking money out of one pocket and putting it in another. one of the reasons why gasoline demand has gone down is not because everyone bought a hybrid. but part of it is because we are subsidizing bio diesel and ethanol. putting ethanol in every gallon. the government is actually subsidizingndustry, putting that into the gasoline, which means we are using less gasoline which means that we need more tax revenue. what is wrong with this picture? melissa::those two guys just introduced even more problems that madme more furious. i don't know. are you going to buy a lot on top of that? >> the other insanities we're subsidizing people to buy hybrid vehicles, electric cars command of that. we are paying people to buy energy-efficient cars can, of course, it does not raise enough revenue to pay for the roads now now we have to raise taxes on people who still have the old-fashioned cars. so thus begins the cycle. then government has to look at all of these unusual ways of
12:16 am
raising money like putting a gps in your car so that it can record the amount of mileage. then it will charge you for the amount of mileage that you drive. it is just crazy. melissa: unbelievable. and if they raise the federal gas tax as much as they want to from 18 to 33, the average person spends $100 p year on federal gas taxes alone. i thought that was low. i feel like it is higher than that, but this would make that $180. does not matter who you are. that is completely regressive. that does not seem like what the folks in washington has said thereafter. >> more than that, why do we have tolls on bridges. they keep electing the tolls. and then when the bridge is paid for this squander it on some social purpose. and think about all the money that we have started to sub systems. it is one thing to build them, but you have to seek out inefficieny the run.
12:17 am
melissa: wow. i mean, i thought i was the most irritated person about this. but peter clearly just tk my crown away. even more agitated about this than i am. what do you think? >> you want to get even more agitated. melissa: i'm starting to be sorry that i started ts. >> you have the whole weekend to get over this. melissa: go ahead. >> $80 billion in stimulus programs. that is what we spent with the obama administration. do you realize that infrastructure under obama has actually gone down by one-third? where the money go? that is what we want to know. melissa: infrastructure spending has gone down? >> we are actuallypending less on infrastructure.
12:18 am
i thought we were having all of this shovel ready projects that we were supposed to be doing. only 26 billion, i believe, of the 80 billion went toward infrastructure. the rest went to a lot of different types of programs that have not stimulated the economy, nor has this fix a lot of my bridges. melissa: what about you? are the roads and bridges crumbling where you are? have you just given up? i am not going to drive, not going to pay any more federal taxes. i guess we will just a taxing my bicycle. >> eleven washington dc. of course the roads are crumbling in the nation's capital. my big worry is that we are going to turn to something like a carbon tax because government is so desperate for revenue these days that they are looking at that as ne of the biggest tax increases in history. this going to be a cash cow for more government spending. i think that is the next thing that we are going to have to worry about. melissa: i inventethis segment
12:19 am
because i wanted to vent, but you guys out to me. now i feel even worse. it totally backfired, but it was fun anyway. have a great weekend. coming up, you will never snooze again. wait until you see thi. of flying along clock. it is going to bug you so badly that you will leap out of bed to shut it off. i promise you. you cannot miss today's deck the halls. it is phenomenal. an alarm clock. incredibly vain sell fees. has been quite a week here on "money." we have our week in review. up next, can you ever have to much "money"? you could not possibly. ♪
12:20 am
12:21 am
12:22 am
♪ melissa: it is time to deck the halls. today we have more fantastic
12:23 am
gift gadgets the you have not seen. you're definitely going to want to get them. tech expert chilly palmer is your show them off. you're already laughing. i take the first gadget, and you don't even like it. >> is just silly. here we have an alarm clock because apparentlyou don't like getting into bed. melissa: i hated. who likes to get up in the morning? >> when you turn this thing on faith is supposed to -- [laughter] melissa: that would not give me a bed and as it -- he worst thinge yourself, but ever seen. >> when we demoted earlier it blew into the air and was very irritating. kept screaming very glad all of us. >> more irritating when it works when it doesn't.
12:24 am
relatively highly irritating. anyway. tech gift number one. melissa: a single use item. you do it once, threw it out the window, and be done. >> of the new will really like. this is a thing called rhino a shield. now, this is good old-fashioned guerrilla glass. this class is a glass hat you have on 9-and cell phone. do a little demonstration with how fragile guerrilla glasses because his get is is -- melissa: wait. >> yes. we have to put these on. a steel ball bearing and drop it on your, that is going to go. melissa: bless every year. >> that's what happens. now, you're not going to need these now because when i put the reiner she'll bond apiece of guerrilla glass, my cellphone, what is going to happen is -- melissa: i'm going to be careful here anyway. >> nothing bad is going to happen. and if i were to take it off just to show you how crazy i am a toilet in here, that's gonna.
12:25 am
melissa: that's terrible. it's everywhere. >> welcome to reiner's shield. melissa: workman's comp. a jar. where are you? >> twenty-five bucks an amazon. it will protect your samsung galaxy as for, it will protect your iphone four or five. melissa: what about my sad little blackberry. >> i actually can't talk to you anymore. thank you for having me on the show. what are you doing with a blackberry? melissa: i can't type on another phone. >> this is so sad. this is the saddest thing and never heard. melissa: you're saying you won't give me one for this? >> no. but only with the hopes that by drop despondent it will shatter into a million pieces in the youtube and android phone. that would be awesome. you guys pick this. this is a photo printer. it prints photos. it prints photos of the iphone. if someone is going to actually buy this, it has the film connector. a lot of these printers you will find have the old 30 and
12:26 am
connector. if you have an iphone five you will have trouble sticking it in here. of course you will need an adapter. be careful they do make nice photos, but i think you are just starting a printer and call it the day. melissa: i was told you're really curmudgeonly. your friendly. >> don't buy a photo printer. this is a thing called aroma. this little guy is awesome. it is all little robot that takes your iphone file and talks to you. this is an autonomous robot. melissa: it is not the alarm clock. >> the alarm clock cases. >> caring the hell out of the robot. wow. >> that really is annoying. melissa: the wt is the point? >> it can never stop. you know what, hitt with that ll bearing. we have to go. thank you so much. that as fun. up next, things are about to get awkward.
12:27 am
the return of the office party. the budgets are up, but do you know the right way to make conversation with your boss? don't bring the alarm clock. that is for sure. how many drinks are allowed? intimate "money" today? one man is turning to craigslist to turn a quick buck. here is a hand. there is no coming between the man in his sock. piles of "money" coming up. can you turn off the alarm clock? ♪ every day we're working to be an even bettecompany - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last fiveears - making bp america's largest energy investor. our commitme has never been stronger. so i deserve a small business credit card
12:28 am
with amazing rards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer get the spark business card from capital one. choose 2% cash back or doue miles on every purase, every d. what's in your wallet? i need your timesheets, larry! see these hands? they gripped the wheel of a humvee in afghanistan. these hands? six years treating soldiers. twelve years, flying choppers. my hands? they're here for the person who fought in afghanistan. i made the call and got support for my sister. my hands are here for the person who tread those soldiers.
12:29 am
i helped connect my son with the care he's earned. mine take care of the person who flew those helicopters. and if life gets overwhelming they're ready to dial the veterans crisis line. the veterans crisis line is here for all veterans and their loved ones. call 1-800-273-8255 and press 1. or chat online at
12:30 am
♪ melissa: it is that time of year. eggnog, christmas carols, of course, the of the solid party. the good news is, budgets are back, allowing more companies to get back in the spirit. but it is the perfect opportunity to do something you will regret because you know someone always does. how to handle it in today's "money" talker. here now, ramie spencer, jerry guy randolph and veronica dagger according to the protocol school
12:31 am
of washington, very official, holiday party is an excellent time to introduce yourself to the ceo. get the kurds together and go up in bars and and just talk to them. >> i absolutely disagree. it is not necessarily the best time to meet them. it may be a good time, and you should be prepared. know something personal, specific. go in and get out. thirty seconds to make an impression, be memorable. if the ceo is doing his or her own thing you don't need to push your way through the crowd. melissa: it is our one chance. what are you thinking? think of something funny. >> s has a good point if you don't have anything other than business conversation you don't want to be trite. maybe you follow up with them after with and know gorgeous a thank-you for the holiday party. i love working for this company. one thing i suggests that you drink heavily. melissa: what a great idea. >> get it out there, dri
12:32 am
heavily committed your colleagues dog. a mortar you have on people they hire you can climb up the corporate ladder. melissa: i like that. rather than cornering the boss you say get yourself hammered or did everyone around you hammered melissa: i like that. >> i have not done that. i think it is a great time to meet the ceo. it helps you build your own confidence, your professional confidence. so getting your name out there. you need to b careful in what you say. you don't want to say something like and now we had a really bad quarter. that would make you feel really bad. complement's on something good that was done. >> it is hard to make a relationship. >> if you think it is your moment to shine, if you will try to seize the ment and lean in and make that impression, i suggest that you remember although it is a party, it is still work every don't disregard
12:33 am
all of the professional etiquette and common sense that you would ve if you were sitting in your boss's office. it is the same thing in a different setting. melissa: i picture the boss being tortured, sitting there. they have to be on the whole time. theyre the boss, glad handing everyone. what could you possibly do? are you funny? do you say something? >> it is tough to approach the boss. it is an excellent opportunity to start interacting with people you don't typically interact with. maybe a higher level manager, but if you are in a big company, it is tough to go up to the ceo. there also probably not going to have enough and time to get to know you. i don't even know what that 30 seconds will have an impact on. personally advised to steer clear. if you talk about business you're pandering. melissa: let's get back to the alcohol thing for a second. i'm sure it was i mean, do you have no drinks, one or two?
12:34 am
what is the proper etiquette? do you say nothing? look like a spoiled -- >> no, i go to at least one work function per week. sometimes almost every night. i do not drink alcohol. d'agata club soda, water, so that. you have to be on. >> it is not the place. it is not the place to take the edge of. go home or go to a bar and take the edge of. >> we will go out for drinks after periods of worry. >> having a drink in your hand makes you look social and approachable, happy to be at the party, grateful for the opportunity. melissa: there was one person trying not to drink an hour of this party, and we gave for the worst time. terrible. what a stake in the mud. come on. >> know your limits, stay away from shots, stay away from hard liquor. stay away from that. have a beer, cocktail.
12:35 am
don't do shots. >> it all depends upon your work environment. if it is a creative environment, that is one thing. what's of lawyers and judges is another. >> i have been in that positn. >> take a picture. >>t's all about the black male. melissa: take a picture. >> still posted on twitter. holding your back pocket for when it comes time to talk about your bonus and salary. melissa: and like it. >> it's all about blackmail. melissa: here is the questionn3 everyone wonders. the big office party. how long do you have to stay? what is the etiquette? >> make an appearance in and say hello to the key players. hi to your boss. ideally say hi to the ceo, maybe someone in human-resources, anyone else you want to connect with the need for the first time in a more social situation. melissa: that's it? >> i think that's fine.
12:36 am
a lot of time -- melissa: do you worry about looking like a boring marriage? the mean, does it bother you at all? >> i don't worry about that. i worry the u.s. me that. >> i think you have to stay at the party as long as possible. melissa: and jared is getting everybody drunk. thanks. go have a cocktail. up next, a taste of -- a case of tacky versus classes. polling more customers into the stores and restaurants than the other. which is it? tweet me a tell me what you think. at the end of the day, it's all about "money." ♪
12:37 am
12:38 am
12:39 am
♪ melissa: holiday sales are letting a for one restaurant chain, and it is all about the
12:40 am
attitude. last year some golden corral restaurant tted the theory th christmas lights and festive decorations would provide a gift of an increase in sales, and it worked. the location with flights earned 5% more than discourage restaurant that did not show their holiday spirit. the key to boost your business the solidly season. here now to explain, senior vice president at golden corral on a psychologist jeff partier who is going to delve into the psyche of this. let me start with you. what gave you the idea not only to decorate, but then to document and test whether or not it was working? >> let me start by saying happy holidays, melissa. melissa: happy holidays to you. >> i was visiting one of our restaurants franchised restaurants in sacramento. it was dark and in the holiday season. the place was live up like a christmas tree.
12:41 am
i was tickled by it. i thought, oh, man, what a great idea. i said this is a great idea. he said, "among the businesses up because of it. he did not really know. i can put this to the test. they had to wait a year to do it fast, but that's where the idea came from. melissa: there is an investment involved. because of decorating is to get 3,000. it was interesting that you found multicolored lights did better than if someone put beautiful pristine white lights like winter teams. >> isn't that amazing? in the tests we brought in professional decorators, which is important. you just can't hang a string of lights from the downspout and expected business to go up. you have to do it right.
12:42 am
in the test theranchisees' to choose which lifestyles wanted. the one that shows multicolored lights outperformed the ones with white lights. i thought that was interesting. melissa: what do you make of that? >> well, i think what we're looking at if you're looking a white to red, green and so on, you are hitting the different brain centers for individuals. that is why we also see things like aromatherapy where they have certain sense that they want to put out there, the music, hitting the auditory senses, but the light, the red brings out more emotion. green mill know you're a little bit. what brings up your mood. so this is all a psychological, if you will. melissa: they suddenly need like a bubbling fountain of chocolate are bubbling fountain of cheese. they see the lights and immediately those near centers, and they start craving is
12:43 am
bubbling food. >> exactly, and i'm going t give you a ph.d. because that is what happens. the associate that with cheer and happiness. melissa: bob, is that your thought process? this strikes me as i see the holiday lights, and thinking cheer and happiness and nothing says that like a giant mountain of chocolate. isn't that what your specialties? >> it is. or chocolate fountain, are taught that wonderful, we call it, an extraordinary success. but the information about how this affects the brain is way over my head. i just know. melissa: bob, have any of your franchisees' pushed back? there is obviously a big cost year in putting up the lights and taking them down, especially if you have someone professional do it.
12:44 am
in the initial year we have, i think, by the time it is all over we may have 50 franchisees' doing it, which is exciting. they financed it themselves, to the 3,000, and the payback that we got w enough that they got moreusiness and made more money doing it. melissa: definitely. >> this is all but given the right idea. >> you could do it for every holiday, but we should point that even with the christmas holidays you have to be careful. there is a certain formula you are supposed to use. not supposed to over decorate, but just enough that it gets people stimulated as far as the good sense. melissa: thanks to both of you. for some reason i'm craving golden corral. thank you. happy holidays. in other action packed week here on "money". we waded through the latest round of health care. examining the ongoing minimum wage war looking for to a future @%lled with browns. someeow we manage to have a little fun.
12:45 am
what does it mean for your life and your "money"? how much is that going to cost them and us? even when they say it's not, it's always about "money." >> the website is working well for the vast majority of users. melissa: open for business. really? >> they need to delay this. it i not ready to go. >> a lot of problems with this website. >> some others million guinness, would you tell your mom to butter affirmation on there? >> i would not recommend a mom billion website in signing up for health care. melissa: the wage debate wages on. >> $15 the union. melissa: it will cost half million jobs. are you okay with the idea that you could get fired? the exact and person. it is high for me to understand what your complaint is. >> imagine yourself. you live of the $15,000 on an3 annual basis. >> minimum wage and then i worked my way up to where i am
12:46 am
now. th is the american way can help people get started. >> and of this looks like science fiction, it's not. melissa: drawn delivery in 30 minutes a less, just like a piping hot pizza. >> the doorman, looksike the drone is coming down. melissa: i will send it down. the young and the reckless. the young are turning on president obama and a big way. >> that don't like obama republics, their parents. how come we can't get a job? alchemy have to pay back the we have no money. >> experiencing a harsh reality of big government failed liberal policies and is sitting in the pocketbook. ♪ melissa: you against the guy sitting next to you. >> no. >> you have to look good your office. it is a battlefield. >> it is a battlefield. melissa: "spare change." let'get to the bottom of this.
12:47 am
>> why this study is bull crap. bart simpson and say it, so i can say it. melissa: time to deck the halls. >> this is the nike star bandit. melissa: this is incredible. look at that. you brought your mou at our blue to. big, fuzzier months. i don't know why you're trying to were those metro black ones. >> is the ones are worth of. >> i want the fuzzy ones. >> this is really fun. we can take one together. melissa: all right. outrage after kim kardashian measly offering. she gave just 10 percent of the proceeds of an event. is this the norm when it comes to celebrity fund-raisers? do they even give anything at all? don't know. don't move. at the end of the day it's all about "money." ♪
12:48 am
12:49 am
12:50 am
12:51 am
♪ melissa: it is time for a little friday fun with "spare change". is that season for charitable given. not as charible as you want to think they are, like reality star kim kardashn, giving a storm of negative media for giving only 10 percent of proceeds from her recent ebay even into a typhoon victims in the philippines. who is to say what is enough. is there a legal obligation to give more? joining me now, attorney and in techheatley. i was horrified by this. i mean, she was supposedly raising money for relief fund, victims of of this tragedy, but she is keeping most of the money and giving 10 percent away. >> i actually am very much horrified, but i have to give you full disclosure. i don't get kim kardashian. put that aside. st charities give on average 65% of the money that they
12:52 am
collect the actual charity. that is an average rating. real legitimate charities give 75 percent. people who bought address on the they were not expecting and percent of the nine to go into kim kardashian pocket which is inappropriate. melissa: is this normal? you know all the celebrities. and wondering, is a particularly horrible. >> look, i think there are different degrees of celebrity. not everye is angelina gillian brad pitt who have given millions and millions of dollars. not everyone is michael j. fox. that everyone is paul walker. he was doing a lot of charity work under the radar. melissa: of those people you mentioned, what percent would you give? >> a very large percentage. some of it is publicly done and some of it is paul walker, a variant of the radar, no one even knew that he had this great foundation, doing charitable work. so i think there are levels of celebrity. apparently in the west and the 10 percent of everything that
12:53 am
she makes. we are talking about one specific aucuction about one specific charity. it is not all across every causes his ever given to in every realm every year. melissa: if she says she is raising money for the philippines but is brought in 90%, what is that -- >> well, the obligation was to comply with the ebay rules which is at least 10% and bigger charity which is exactly what she did. but the fact of the matter is, what the people reasonably expect. when u.s. people to give money to charity they reasonably expect that every dollar they're going to give a large profit to five percentage will go to charity and not in some celebrities pocket which is exactly what happens. don't sit here and tell me. >> she is getting criticism. but there are a lot of celebrities that have given nothing. thing she has done something. she has done is consistently. melissa: it feels like she
12:54 am
profited more than she contributed. and is one thing the san going to act -- i did this concert separately and i'm going to after the fact -- people came to see me. after the fact delegates in% minus the philippines. that would be huge. but to do something and to advertise it as by this and there is money going to the philippines to help these poor people but in reality she is giving a small percentage and then she is profiting of someone else's disaster,hat is what is so distasteful. >> here is what is distasteful, and she had stolen the money and not given any and turned around and said i give 10 percent of my income to charity everyone would agree that is flat out wrong. and so i think the 10 percent is not enough. melissa: working with this program for a long time consistently over the years a celebrity it gives charity, is their name to a cause a good thing. melissa: you did a great job. definitely. a tough part. the one-man was made to choose
12:55 am
between the love of his life in the wheels of his dreams. no, no. that never goes welll find that he made "money" coming up next. ♪
12:56 am
12:57 am
12:58 am
♪ melissa: whether it's on wall street and main street to see made money today. everyone who runs general motors. chair stopping $40 for the first time since the government motor bailout, the stock rose almost 3%. better vehicle sales data for the month of data. that is good news for chief executive. he owns nearly 176,000 shares. so he made about $190,000 today. not bad. and martial arts legend bruce lee is making money from beyond the grave. his iconic yellow and black jumpsuit has been put up for auction in hong kong and was purchased by an anonymous bidder for more than 100 grand. he wore the jumpsuit in one of
12:59 am
his very last by scenes. also up for sale, is not such and that green bamboo with which was sold for about $81,000. i can't believe i missed that. making "money" on the things he loved, a guy in virginia that found himself in quite a dilemma when his wife forced him to tell -- sell his treasured harley-davidson. there was no way he would not choose so instead he put them up both for sale. [laughter] the mad said the by canada the wife are id good condition and asking foo $6,000 and will even deliver them to your house for crowfoot said romance was dead? i hope you made money today. to it in next week for robot week. do what is your job could be going we will show you the coolest robots out there. every day next week i cannot wait. have a great weekend.
1:00 am
the willis report's impact lves. constituency booby stars. [laughter] >>. >> to be a service to our president. >> they are eager to support their president how. >> they had no where to return until he arrived. >> don't how how. >> is specially the egalitarian system, ot to stop the violence.


disc Borrow a DVD of this show
info Stream Only

Uploaded by TV Archive on